If you’ve ever had a large amount of debt that wasn’t a mortgage, you probably know the feeling it gives you. That sinking feeling in the pit of your stomach, like there’s a ticking time bomb inside you that could go off at any moment. Maybe you feel like you’re being held back because you constantly have to make debt payments.

If that sounds like you, let me tell you… I know the feeling. I’m currently sitting on $40,000 worth of student debt from my MBA, and it’s killing me. Every time I see a house I’d like to buy or a trip I’d like to take, I’m reminded of my debt, and I’m saddled with this guilt that if I don’t pay it off, I’m a bad person.

Now $40,000 is a pretty big number, but I know there are plenty of folks out there with more. So here’s what I’m going to do: starting now, between other posts, I’m going to write a new series in the finance section of my site chronicling my journey from $40,000 of debt to zero. I’m sick of being in debt, so I’m doing this as much as a tool to force myself to commit to the journey as I am to give others a window into what it takes to pull yourself out of that hole.

I’ll share insights with you on what I have to sacrifice to shrink the number, what’s running through my head along the way, and where my balance is at… and I won’t stop until it hits zero.

Starting Now

I currently do online surveys to make a few extra bucks each month, all of which I apply to my debt. It’s not much (around $100 a month), but hey, every little bit helps, right?

I’m annoyed with myself that I haven’t done more to try and reduce this debt already, but that’s why I’m starting this column. No more excuses! Once a month at least, I’ll share with you what I’ve done to reduce my balance. That should work to break the intertia that’s been holding me back. The hardest part of accomplishing anything is starting!

So I’ve made a $500 payment to my debt so far. If you’ve got a loan you’re trying to pay off, I challenge you to make a payment against it. I don’t care how big or how small, just make a payment – starting is the hardest part!

Current Balance: $39,500